Summary of Key Points Core Viewpoint - The company has provided guarantees for its subsidiary, Ningbo Economic and Technological Development Zone Thermal Power Co., Ltd. (referred to as "Thermal Power Company"), to support the financing needs of Ningbo Jintong Financing Leasing Co., Ltd. (referred to as "Jintong Leasing") through various guarantee contracts totaling up to 36 million RMB [1][3]. Group 1: Guarantee Overview - On March 16, 2026, Thermal Power Company signed a maximum guarantee contract with China Minsheng Bank Ningbo Branch, providing an irrevocable joint liability guarantee for Jintong Leasing's debt up to 20 million RMB, with Thermal Power's share being 2 million RMB [1][4]. - The total guarantee amount approved by the company's 2024 annual general meeting is within the limit of 36 million RMB, with Thermal Power Company providing a 10% guarantee based on its equity stake [2][3]. Group 2: Internal Decision-Making Process - The company held its 2024 annual general meeting on May 9, 2025, where it approved the proposal for Thermal Power Company to provide guarantees for Jintong Leasing's external financing [3]. - The guarantee is structured as a joint liability guarantee and is effective from the date of approval until the next annual general meeting in 2025 [3]. Group 3: Details of Guarantee Contracts - The first guarantee contract specifies that the creditor is China Minsheng Bank Ningbo Branch, with a guarantee period from March 16, 2026, to March 15, 2029, covering principal, interest, and other related costs [4][5]. - The second guarantee contract involves Ningbo Bank Jiangbei Branch, with a maximum debt limit of 20 million RMB, effective from March 18, 2026, to March 17, 2029 [8][9]. Group 4: Guarantee Responsibility Distribution - The distribution of guarantee responsibility among the guarantors is as follows: Ningbo Energy Group Co., Ltd. 46%, Ningbo Economic and Technological Development Zone Holding Co., Ltd. 40%, Thermal Power Company 10%, and Ningbo Meishan Free Trade Port Area Jinyuan Enterprise Management Consulting Partnership (Limited Partnership) 4% [6][10].

Core Points - Chengdu Haoneng Technology Co., Ltd. has approved a bank credit limit application totaling RMB 420 million for 2025, which was authorized by the shareholders' meeting [2] - The company has signed a working capital loan contract with Bank of China Chengdu Jinjing Branch for RMB 50 million with a term of 24 months [3] - The company has cumulative bank credit applications amounting to RMB 3.314 billion, with an unused credit limit of RMB 886 million as of the announcement date [6][7] Credit and Guarantee Details - The company has pledged 100% equity of Chengdu Haoyiqiang Aviation Equipment Manufacturing Co., Ltd. as collateral for the credit, with a maximum guarantee amount of RMB 279.3025 million [4] - The company has also provided guarantees for its subsidiaries, including a maximum liability guarantee of RMB 30 million for Chengdu Haoyiqiang [10] - The total amount of external guarantees provided by the company is RMB 2.332 billion, accounting for 77.11% of the audited net assets for 2024, with no overdue guarantees reported [11] Impact on Company - The credit application is aimed at meeting the daily operational liquidity needs of the company and its subsidiaries, enhancing financial security, and supporting sustainable development [7] - The board of directors believes that the guarantees provided will not harm the interests of the company and its shareholders, and the subsidiaries have stable operations and good credit status [10]